Page 31 - UKRRptOct20

Ukraine’s Poland is also well balanced with and almost flat trade account of $1,7bn of exports in July and $2.1bn of imports, the imports are $2.9bn leaving a much bigger deficit of $1.2bn that is also proportionally a lot larger than the deficit with China.
With $1.6bn of exports to Russia in July, Ukraine imported $2.6bn from Russia also leaving a monthly deficit of nearly $1bn.
The trade deficit Ukraine runs is even bigger with just under a billion dollars of exports but just under $3bn of imports leaving a whopping $2bn deficit.
All-in-all Ukraine was running a $1.3 bn trade deficit with its 15 more important trade partners in July, but the result is distorted as some of of those partners like Saudi Arabia are mainly importing grain from Ukraine and not selling it anything. The Netherlands is another one that “buys” a lot of exports and sends no imports back as the Netherlands is largely used as an offshore domicile for Ukraine and Russian business and so is not a “real” trade partner.
Russia’s share in Ukraine’s trade has been diminishing and is down from about 15% at the start of this year and almost a third a few years ago, but it remains a significant trade partner, despite the hostilities between the two countries.
From those countries where Ukraine runs a positive balance of trade, the best market is Belarus where Ukraine exported $750,000 worth of goods in July and imported
31​ UKRAINE Country Report​ October 2020 ​ ​www.intellinews.com